Ika Receives Strategic Investment from Sui Foundation, Total Funding Exceeds $21 Million

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Ika will launch the world's fastest sub-second MPC network on the Sui blockchain, empowering cross-chain DeFi, decentralized custody, and other Web3 applications.

Switzerland Zug, April 28, 2025, Chainwire

The world's fastest parallel MPC network, Ika, is set to launch on the Sui blockchain, announcing a strategic investment from the Sui Foundation. Previously, Ika successfully conducted a record-breaking 1.4 million SUI NFT art event on Sui. Ika is the world's first sub-second MPC network, capable of zero-trust interoperability among hundreds of signer nodes, unprecedented in scale and rock-solid in security.

Ika aligns closely with Sui's core values of performance, speed, and high decentralization. With its upcoming launch on the Sui blockchain, Ika will bring its unparalleled MPC technology to the Sui ecosystem, providing secure cross-Web3 interoperability for Sui Move smart contract developers. This further solidifies Sui's position as the preferred solution in areas such as cross-chain DeFi, decentralized custody, chain abstraction, AI-agent defense, native Bitcoin programmability, all built on the first truly scalable and secure MPC signature solution.

Ika: Setting a New Benchmark in MPC Technology

Ika, leveraging an innovative 2PC-MPC encryption scheme and Sui's Mysticeti consensus protocol, addresses key bottlenecks of existing MPC networks, delivering unparalleled performance:

1. Record Throughput: Ika's transaction processing capability is up to 10,000 times higher than current MPC networks, supporting unprecedented transaction volumes.

2. Ultra-Low Latency: While traditional network signatures may experience delays of 30 seconds or more, Ika can generate signatures in sub-seconds, supporting real-time cross-chain applications.

3. Extreme Scalability: Ika breaks the conventional 4-8 node limit, scaling 2PC-MPC to hundreds or even thousands of signers, enhancing decentralization without sacrificing performance.

4. Zero-Trust Security: Ika's architecture ensures that even in the most extreme scenarios, user assets remain secure, setting a new standard for decentralized security.

Ika Use Cases: The Disruptor of Web3

Ika's ultra-fast MPC network supports various applications on the Sui blockchain, with several Sui developers already leveraging Ika to build tech, including:

· DeFi Interoperability: Ika's sub-second speed and scalability enable instant secure operations within the Web3 ecosystem, bringing liquidity from chains like Bitcoin and Ethereum into Sui. Sui developers Full Sail and Rhei have announced upcoming tech launches based on Ika.

· Decentralized Custody: Ika provides a secure, decentralized custody solution for digital assets on Sui, delivering unparalleled security for both institutional and individual users. Sui developers Aeon and Human Tech have announced the integration of Ika into their technology.

· Chain Abstraction: Ika helps Sui developers abstract away the multi-chain complexity for users, combining features like Sui's zkLogin to offer a seamless user experience. Sui developers Covault and Lucky Kat have announced the integration of Ika into their technology.

· Programmable Bitcoin: Ika unlocks new possibilities for native BTC on Sui, enabling programmable and secure DeFi and custody. Sui developers Native and Nativerse have announced the upcoming launch of Ika-based technology.

· AI Agent Protection: Ika enhances AI applications on Sui with secure MPC protection, ensuring AI agents do not have unrestricted power and safeguarding user asset security. Sui developers Atoma and Ekko have announced the upcoming launch of Ika-based technology.

Industry Leaders' Support, Community Enthusiastic Adoption

The strategic investment in Ika by the Sui Foundation highlights Sui's commitment to advancing cutting-edge technology for high performance and decentralization. This enhances the technological synergy within the Sui ecosystem, propelling Sui and Ika to the forefront of the Web3 revolution, jointly advancing the future of secure, scalable, decentralized infrastructure.

Ika has raised over $21 million, with a peak private valuation of $6 billion FDV, receiving support from numerous key Web3 industry participants such as Sui Foundation, DCG, Big Brain Holdings, Blockchange, Node Capital, Amplify Partners, Liquid2 Ventures, FalconX, Tykhe Block Ventures, Lightshift, Token Bay Capital, Collider, Zero Knowledge Ventures, NoLimit Holdings, Rubik Ventures, Dispersion Capital, Insignius Capital, Impatient Ventures, Cerulean Ventures, Earl Grey Capital, HDI Ventures, Flowdesk, TPC Ventures, Purechain Capital, Solr DAO, Heroic Ventures, Naval Ravikant, NotVCs, G-20 Group, Artifact Capital, DSRV, Encapsulate, and others.

Ika also demonstrated the strong support of Sui users by launching the "MF Squid Market" NFT art event, which became the largest and most successful NFT event in Sui's history, raising over 1.4 million SUI and establishing an active grassroots community.

The IKA token is set to go native on the Sui blockchain, unlocking new decentralized security features and utility. As the native token of the Ika MPC network, IKA will play a key role in its ultra-fast, scalable infrastructure, used to pay for MPC signature services, enabling seamless transactions in the Web3 ecosystem. Leveraging Sui's unparalleled speed and performance, Ika enhances the security and scalability of the entire ecosystem, introducing the most promising MPC technology in blockchain to the fastest-growing L1 of Web3.

About Ika

Ika is the world's fastest parallel MPC network, offering sub-second latency, unprecedented scale and decentralization, and zero-trust security. As the preferred choice for interoperability, decentralized custody, and chain abstraction, Ika will revolutionize digital asset security and multi-chain DeFi.

About Sui

Sui is the first Layer 1 blockchain and smart contract platform designed from the ground up to make digital assets fast, private, secure, and accessible to all. Based on the Move programming language, its object-centric model supports parallel execution, sub-second finality, and rich on-chain assets. Sui supports a wide range of applications at a low cost with unparalleled speed through horizontal scaling of processing and storage capacities. Sui represents a significant advancement in blockchain technology, providing creators and developers with a platform to build exceptional user experiences.

Contact:

Ika PR

pr@ika.xyz (mailto:pr@ika.xyz)